Abstract: Activated fibroblasts in the tumor microenvironment (TME) are considered to be the primary source of cancer-associated fibroblasts (CAFs). In colorectal cancer, CAFs regulate immune cells in the TME and modulate biological behaviors, such as drug resistance, migration, and invasion, by secreting bioactive molecular substances. Therefore, CAFs affect the survival and prognosis of patients with colorectal cancer. Recently, experts in the field have identified many CAF-associated biomarkers and genes. Novel colorectal cancer therapies target CAFs as they are key players in the disease. This paper reviews the source, activation, and recruitment of CAFs and the research progress made regarding this cell population in colorectal cancer, thus providing new perspectives and directions for the research and clinical application of CAFs in colorectal cancer.